In addition to the pro cyclical sector, it is worth noting that although the pharmaceutical sector has declined significantly since November, the 10 billion level private placement also pays more attention to it.
From the perspective of the stocks frequently investigated by institutions, Mindray medical and Weining health are the most concerned by institutions. Since November, 399 and 329 institutions have been surveyed respectively. In addition, Huichuan technology, golfer, meinian health and Hikvision also obtained 271, 243, 233 and 219 institutions respectively.
From the survey records, the 10 billion level private placement pays more attention to the influence of the senior management change, centralized purchase event and vaccine launch on the company.
Regarding the impact of centralized purchase, Mindray medical said that the centralized purchase promoted by the state medical insurance bureau is mainly aimed at the field of drugs and high-value consumables. The products of the companys three major business lines do not involve drugs and high-value consumables. Among other products, orthopedic consumables account for a very small proportion of income, so it has no impact on the companys business at present. For example, from the perspective of potential impact in the future, medical equipment as a cost item, rather than an income item, is the natural subject of cost control and cost reduction. Therefore, medical equipment does not belong to the object of centralized purchase implemented by the National Medical Insurance Bureau. At the same time, due to the characteristics of various types of medical equipment, specialized application and rapid product iteration, it is difficult to implement centralized procurement.
As to whether the accelerated market-oriented promotion of new crown vaccine will affect the companys next growth momentum, Mindray medical said that from the perspective of revenue share structure, the historical revenue of products such as monitors, ventilators, infusion pumps and portable ultrasound, which are significantly driven by the epidemic demand, accounted for less than 30% of the historical revenue, but showed explosive growth, making up for the negative impact of the rest 70% of the business Sound of the downturn. If the global epidemic situation is effectively controlled after the vaccine is launched, more than 70% of the original damaged business of the company can be recovered, and the rebound business growth will be very considerable.
The recent centralized procurement of heart stents for medical devices has led to a downward trend in the whole pharmaceutical sector, and some unaffected companies have also been implicated. This kind of company is worth paying attention to, because the long-term logic of many pharmaceutical subdivisions has not changed. The national health insurance bureau implements centralized procurement of drugs and equipment with low barriers. Many companies killed by mistake will not face this problem, so I have been buying more and more recently Shanghai a 10 billion level private medicine fund manager to speak up.
In the short term, the market volatility intensified at the end of the year, optimistic about the recovery of alternative consumer industries such as automobiles, household appliances, hotels and aviation after the epidemic; in the long run, we should lay out innovation driven and high prosperity industries, and continue to be optimistic about the long-term growth space of new energy, innovative medicine and medical services.
10 billion private placement research busy
According to the statistics of private placement network, as of November 25, there have been a total of 1665 surveys conducted by 677 investment institutions since November. Among them, Danshui spring, Hongcheng investment, Xingshi investment, Chongyang investment, Tongyuan investment and other private equity institutions ranked first.
By combing the research path of private placement, it can be seen that machinery, basic chemical industry, power equipment and new energy, building materials, real estate, non-ferrous metals, steel, petroleum and petrochemical sectors have begun to attract attention.
According to the survey dynamics of 10 billion level private placement, a total of 206 stocks were investigated by 29 private placement companies. Danshui spring, which has always adhered to reverse investment, has conducted more frequent research activities since November. It has investigated 24 stocks including Alto electronics, Yuege shares, Weixing new materials, etc. Followed by Chongyang investment, a survey of 16 stocks, including some pro cyclical stocks.
According to master data of private placement network portfolio, as of November 13, the overall position index of 10 billion private placement was 83.53%, up 0.88% month on month. Among them, 63.66% of the 10 billion private placement positions exceeded 80%, and 32.33% of the 10 billion private placement positions were between 50% and 80%. We can see that the position of private placement is more than 9.5 billion.